Cambodia’s thriving industries, strategic location, and regional agreements create a wealth of opportunities for international businesses, particularly for those in Singapore.

Cambodia has been witnessing robust economic growth driven by key industries such as tourism, agriculture, garment manufacturing, and construction. These sectors play a significant role in the country’s development, with tourism and garment manufacturing particularly contributing to the nation’s growth.

Phnom Penh, the capital city, stands as a key economic engine within the country. Located in Southeast Asia, it offers businesses direct access to the ASEAN market, positioning itself as an ideal gateway for companies looking to expand into the region. The city’s strategic location, along with its continually improving infrastructure, increases its appeal as a business hub in Southeast Asia.

For businesses in Singapore, Cambodia presents substantial opportunities for international expansion. The Regional Comprehensive Economic Partnership (RCEP) Agreement and the ASEAN Free Trade Area (AFTA) have eliminated tariffs on nearly all goods and services traded between the countries, creating a more predictable operating environment for service suppliers.

Cambodia’s key sectors for business expansion include:

  • Tourism: With its rich cultural heritage and stunning natural beauty, Cambodia offers extensive opportunities in hospitality, travel services, and related infrastructure.
  • Agriculture: The fertile land and favourable climate create significant investment potential in agricultural production and processing.
  • Garment Manufacturing: As a major contributor to the economy, Cambodia’s garment industry offers opportunities for businesses in textiles and apparel.
  • Construction: Urbanisation and infrastructure development continue to drive investment prospects in Cambodia’s construction sector.

Phnom Penh’s strategic location and Cambodia’s growing economic strengths underline the country’s increasing role as a business hub in Southeast Asia, offering companies access to the vast potential of the region.

Source: SBF